Not all that long ago for about $30,000 you could purchase a Ferrari 308 GTS / GTB. The same car in decent condition is now worth over $100,000 (nicer cars are often getting over $150,000). The 308 is a wonderful vintage Italian sports car, but maintenance costs (especially the engine out belt changes that need to be completed every few years) quickly add up. This makes it strictly a weekend driver.
You just can’t drive a Ferrari every day. There are various reasons for this and it is what led me to choose a Porsche over a Ferrari.
We love cars, but are they a good investment? Should you dump your stock portfolio and plan to use classic cars for your retirement? Why do so many wealthy people invest in cars? These questions and questions like them are all over the internet, but is it a good idea to buy an automobile now to hope you can sell it for a large profit at a later date?
The answer to if cars are a good investment is more complex than it may first appear. We know that with a few exceptions a modern car will keep depreciating for about 30 years and in some cases longer. However, normally after this depreciation values will start to stabilize and then follow an upward trend.
Porsche and Ferrari are rivals, but how did it get to be that way? Most models are marketed to different segments, but from a performance stand point they are extremely comparable. We have made this documentary style video that covers the history of the two makes and just how they became rivals.
Many of us dream of owning a Ferrari. More than just about any other manufacture a car with the prancing horse lets others know that you have made it. The problem is most of us don’t have at least $200,000 to spend on a car. Is it possible to get into a car from the Italian sports car maker for an affordable price? Is there such a thing as a cheap Ferrari?
The answer is yes, yes there is. However there is a bit of a catch, which we will talk about later. Before we get into the negatives, let’s look at 5 of the more affordable Ferrari options on the used market that won’t cost you about the same as a house (depending on where you live).
A 2005 Ford GT was the Top Seller at Anaheim Auction
Just a few days ago (November 12th – 14th) Mecum had their classic and collector car auction in Anaheim, California. The auction was very successful and saw 416 cars sold which totaled $13,853,225 in sales.
The auction featured some wonderful foreign and domestic automobiles. The top seller was a 2005 Ford GT that sold for $270,000. That’s not bad for a car that just 10 years ago sold new for $149,995. Keep an eye on these Ford GT prices as now may be the time to buy before prices skyrocket (they are already high, but at this rate they could double in just a few years time).